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Real Estate Market Snapshot For October 2015

The Final Countdown

As we head into the last two months of 2015, all eyes are on the total sale count for the year.  At 10,870 sales recorded on October 31st, we are less than 50 sales away from surpassing the total number reported December 31st of last year. The question is will we hit that magic 12,000 sale mark? It’s certainly reachable since total sales recorded November 1st to December 31st of 2014 was 1,658. If we do just that, we will end the year with 12,500 sales. The wildcard in the mix is the recent changes to the closing rules on October 3rd. We have all been prepared to plan on a 45 to 60 day close period on sales started after that date.  So keep an eye on my website!  I will be watching daily and will report immediately as we head towards the end of December.

Three reports to pay special attention to this month are the Housing Inventory report, the Balance of the Market report and the AVM Trends report.

ActiveGraphicWe may be finally seeing inventory beginning to build as for the first time all year, we are at a level equal to 2014. Seller confidence and higher average sale prices are certainly playing a factor.

BalanceGraphic

By far 2015 will go down as the year to be a seller. With over 8 months of the year favoring a Sellers Market, home values have risen steadily.

AVMGraphicIn 2014, I began to track three outside valuation sources of a typical Des Moines home along with a monthly market analysis evaluation.  The average of these four analytics show an increase in property values of 8% from January 1st. This does not necessarily mean that all home values are up by that amount.


If you are interested in selling your home or purchasing a home, give me a call! I will help you determine your best strategy based on your local market data.


End of Month Recap Reports
(Click on Thumbnail To Download Full Sized PDF)

About Les Sulgrove

Les is an Iowa native born in Des Moines and raised in the southwest Iowa town of Bridgewater. He has been a resident of Des Moines since 1982 and has been married to his wife Linda for over 35 years. Together they have 3 grown children, 7 grandchildren and make their home on Des Moines south side. He has been a licensed REALTOR® since 1990 and is Vice President at VIA Group, REALTORS®. Les is the 2011 Past President of the Des Moines Area Association of REALTORS® (DMAAR) and received the award of Salesperson of the Year by DMAAR in 2007 for his involvement and service to the Association. Additionally, he is active at the Iowa Association of REALTORS® and serves on local, state and national committees. He also owns and operates the national technology networking group CyberProfessionals. This group of real estate professionals meets twice annually across the United States to learn from each other and share new marketing ideas with heavy emphasis on current and future technologies and their use in the real estate business. Les’ hobbies include golf, photography and sarcastic humor. He and Linda spend many Saturday mornings from Spring to Fall at the Des Moines Downtown Farmers Market. He enjoys spoiling his grandchildren at every opportunity.

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